According to Zacks, “PowerFleet Inc. is a provider of subscription-based wireless IoT and M2M solutions for securing, controlling, tracking and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo and vehicles and truck fleets. Its brand consists of PowerFleet, Pointer and Cellocator. PowerFleet Inc., formerly known as I.D. Systems, is headquartered in Woodcliff Lake, New Jersey. “
PWFL has been the subject of several other research reports. Barrington Research reiterated a buy rating and issued a $12.00 price target on shares of PowerFleet in a report on Wednesday, March 11th. ValuEngine lowered shares of PowerFleet from a buy rating to a hold rating in a research report on Monday, April 27th. B. Riley cut their price objective on shares of PowerFleet from $4.75 to $4.00 and set a neutral rating on the stock in a research report on Friday, May 15th. Finally, Roth Capital initiated coverage on shares of PowerFleet in a research report on Monday, March 30th. They issued a buy rating and a $8.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $8.55.
PowerFleet (NASDAQ:PWFL) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01). The company had revenue of $30.80 million during the quarter, compared to analyst estimates of $30.79 million. PowerFleet had a negative net margin of 12.31% and a negative return on equity of 2.39%. Equities analysts anticipate that PowerFleet will post -0.11 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of PWFL. Victory Capital Management Inc. bought a new stake in PowerFleet during the fourth quarter worth $191,000. Credit Suisse AG bought a new stake in PowerFleet during the fourth quarter worth $553,000. Renaissance Technologies LLC bought a new stake in PowerFleet during the fourth quarter worth $2,300,000. Millrace Asset Group Inc. bought a new stake in PowerFleet during the fourth quarter worth $1,471,000. Finally, Archon Capital Management LLC bought a new stake in PowerFleet during the fourth quarter worth $5,849,000. 52.63% of the stock is currently owned by hedge funds and other institutional investors.
There is no company description available for PowerFleet Inc
Read More: Beige Book
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PowerFleet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PowerFleet and related companies with MarketBeat.com's FREE daily email newsletter.